Tesco's 3% current account

OceanSound

aj23 wrote: »

Depends if you think it's worth getting 4 payments of around £8.50 on each of the 4 accounts for 4 months? So about £130. As well as funding each one with £750 and creating 12 direct debits (3 each)....

Or you could use 4x direct debits that take weekly deductions.

aj23_2

OceanSound wrote: »

Or you could use 4x direct debits that take weekly payments.

Do does that? I haven't heard of it.

*who

soulsaver

aj23 wrote: »

Do does that? I haven't heard of it.

It do......
And that may be a clue..
Dogs do..
Is POo.. too.

YorkshireBoy

aj23 wrote: »

Depends if you think it's worth getting 4 payments of around £8.50 on each of the 4 accounts ...

I'd welcome £8.50 a month! As it is, like everyone else, I'm having to make do with £7.29 to £7.54 most months.

For doing basically nothing though, as I'm on the original T&Cs.

But I'm not sure I'd bother with the hassle of doing what I just mentioned

Even if I opened a brace now it's just 3 SOs and a pair of savings accounts DDs...and that's it. No "hassle" at all for me. Fully automatic, including interest extraction, and when I get bored one wet day I simply withdraw the cash from the savings accounts and put it somewhere paying higher interest.

JustAnotherSaver

The only thing is i don't have 'spare' direct debits. They're all tied up to other accounts.

I opened a new PO saver yesterday because for me they're better than credit card D/Ds which i can use with the Tesco current account i just opened yesterday


But that's only 1 account and i don't see PO opening another any time soon (which i'd use for a 2nd Tesco current account).

YorkshireBoy

JustAnotherSaver wrote: »

The only thing is i don't have 'spare' direct debits. They're all tied up to other accounts.

I opened a new PO saver yesterday because for me they're better than credit card D/Ds which i can use with the Tesco current account i just opened yesterday


But that's only 1 account and i don't see PO opening another any time soon (which i'd use for a 2nd Tesco current account).

You're using your existing PO accounts for DDs for BoS and/or Lloyds, yes?

£5K in BoS gets you around £6.30 a month.

Only £3K in Tesco gets you around £7.50 a month.

So you could put the other £2K under the mattress and still be better off by using Tesco instead of one of the BoS/Lloyds accounts! But you wouldn't...you'd put it with Marcus making 1.5%.

Then again you could do the smart thing and open another PO savings account to service the 2nd Tesco account.

JustAnotherSaver

YorkshireBoy wrote: »

You're using your existing PO accounts for DDs for BoS and/or Lloyds, yes?

£5K in BoS gets you around £6.30 a month.

Only £3K in Tesco gets you around £7.50 a month.

So you could put the other £2K under the mattress and still be better off by using Tesco instead of one of the BoS/Lloyds accounts! But you wouldn't...you'd put it with Marcus making 1.5%.

Then again you could do the smart thing and open another PO savings account to service the 2nd Tesco account.

It's YOUR fault that i've just opened a second current account and am about to open 2 for the wife:mad::mad::rotfl:


yes for the sensitive souls she's aware of it and has given the go ahead as she's headed to bed.

OceanSound

OvalMoney does weekly directdbits (DD). Set it to £2, once your savings hit £5 you can withdraw back to bank account if you wish. Chip (which also works via smartphone app) works via DD, has auto-save feature, but it's best to initiate the transfer manually.

Other fintech's like Plum annd meetcleo have DD's. If you do use these make sure to set the 'saving mode' to manual, otherwise the AI bot will work out you have £3000 in current account and may suggest you pull that money to the Plum/meetcleo account.

BTW, meetcleo support can be atrocious. Waiting over a month now for them to get back to me about ID verification issue. Last I heard (in September) was it was being escalated. Messages through chatbot and social media since then have been ignored.

p.s. check MSE referrals forum for OvalMoney £5 for new sign-ups.

aj23_2

YorkshireBoy wrote: »

I'd welcome £8.50 a month! As it is, like everyone else, I'm having to make do with £7.29 to £7.54 most months.

For doing basically nothing though, as I'm on the original T&Cs. Even if I opened a brace now it's just 3 SOs and a pair of savings accounts DDs...and that's it. No "hassle" at all for me. Fully automatic, including interest extraction, and when I get bored one wet day I simply withdraw the cash from the savings accounts and put it somewhere paying higher interest.

That's cool but the OP was saying about it in relation to the fixed rate period ending in a few months.

JustAnotherSaver

Just wondering when is best to move my money in to the Tesco accounts. Bear with me here...


The earliest i could set up my weekly direct debits was 20th November, so obviously it's too late to get 3 D/D payments in for this calendar month.


I'm not too sure how the interest is calculated so would i be better maxing out the accounts now or since the 3 direct debits can't be taken this month would i just be better maxing them out 1st December?